What is worse: Inflation or Recession? Many have posed this question to me over the past several months, so I thought it constructive to review their respective attributes and provide context to the challenge facing the U.S. Central Bank/Federal Reserve. First, it is essential to understand that the Federal Reserve has a dual mandate of […]
Last week, we discussed how young to start teaching your children the value of a dollar and how to manage it. Now, let’s focus on tips to help teach money management skills to the Young Adults in your life. For weekly insights, follow The Welch Group every Tuesday morning on WBRC Fox 6 for the […]
School started this past week for most students. One question I often get is, “When should I begin to teach my children about money?” Every child is different and matures at a different rate. Some mature very quickly, while others more slowly. Here are some basic guidelines, but you will ultimately decide when your child […]
With home equity values at all-time highs and inflation straining the budgets of everyday Americans, it can be tempting for homeowners to utilize the increase in their home’s value over the past few years in the form of a home equity line of credit (HELOC). While the HELOC can be a great source of financial […]
By The Welch Group The years approaching retirement and the first couple of years away from work are the most critical phases of your golden years. Not only must you figure out what you will do with all your free time, but also change your mindset from being a diligent saver to a smart spender. […]
Inflation is at a 40-year high and interest rates keep increasing. However, there is a silver lining in these uncertain times, especially for Social Security Beneficiaries: the potential for a substantial cost of living adjustment in 2023. As of now, projections for the adjustment are as high as 10%, but this may change based on […]
The annual inflation rate accelerated to 9.1% in June, the highest rate we have seen since 1981 when Jimmy Carter rolled out the ‘WIN’ buttons (Whip Inflation Now). This is the worst inflation in over 40 years! Inflation is hard to miss. A tank of gas is approaching $100 and prices of just about everything […]
By The Welch Group We at The Welch Group prioritize giving back to our communities and living generously. If you can relate, you’re as like-minded as our clients. You know that the world goes far beyond just you and your family and you want to leave your mark on it, making a difference when and […]
Nearly 60% of bills that are in collection and show up on credit reports are medical-related. As of July 1, the three major credit bureaus made changes in their reporting system that could potentially boost your credit score. Experian, Equifax, and TransUnion stopped reporting medical debt that went to collections and was ultimately paid off. […]
The National Bureau of Economic Research (NBER) currently defines a recession as “a significant decline in economic activity across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, etc.” Historically they defined a recession as simply “two consecutive quarters of decline in real Gross Domestic Product […]